Flood buy out deadline arrives
Posted Nov 30, 2013 7:13 am.
This article is more than 5 years old.
A big deadline has arrived for about 250 homeowners living in flood zones in Alberta.
Saturday, they must decide whether or not they want the option to allow the province to buy them out of their properties.
Homes that are eligible are located in what the province has defined as the red zone; which are areas most likely to get hit hardest by future floods.
If owners decide not to be bought out, the government says it will only provide relief funding one more time, then all repair costs will fall on the homeowner.
Once the properties are purchased by the province, buildings will be removed to help with water flow.
So far, the Calgary Herald reports about 40-per cent of eligible owners have filed with the province, with offers made on 39 properties to the tune of $37-million.
